New Merchant account

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New Member

Hello. I am trying to change merchant accounts to save money on credit card fees. The new company I am interested in wants to see two or three bank statements. I am not sure why, maybe to see my activity. Is this a normal request? I can't remember this occurring with earlier companies I have dealt with.

New Member

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Member

Personally I'd just look elsewhere... I doubt their rates are so good that they can't be found somewhere else.

I had a similar issue with business checking; I went to Citi and they wanted to do an in person inspection of the business, come down and check everything out. I told them to buzz off and went to Chase which never questioned anything. I run a legit business so I got nothing to hide but I figure I need to trust my financial "partners" so they better trust me in return.

If a merchant account provider asked me for 2 or 3 bank statements I'd reply with I require the same information from them. Chances are they aren't going to like it and won't provide the information either.

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